Rabat - The United States saw a significant increase in its agricultural exports to Morocco, reaching a total value of $610.17 million in 2023, according to recent data from the U.S. Department of Agriculture (USDA).
Over the past three years, the average annual export value of US agricultural products to Morocco has reached $592.65 million.
From 2014 to 2023, this value has grown at a compound average rate of 3.9%. This marks the highest export value in the past decade.
US agricultural exports to Morocco were valued at $603.43 million in 2022, $564.34 million in 2021, and $477.06 million in 2020.
Notably, there was a sharp decline in 2019, with exports totaling only $298.64 million, down from $586.57 million in 2018.
The leading US agricultural product exported to Morocco in 2023 was soybean meal, which experienced a remarkable 276% growth over the past decade. The US exported 427,272 tons of the product to Morocco, worth $225.40 million.
The second most exported category was tree nuts, including almonds, Brazil nuts, cashews, hazelnuts, macadamia nuts, pecans, pine nuts, pistachios, and walnuts.
In 2023, Morocco imported 32,381 tons of tree nuts valued at $137.03 million. This category saw an extraordinary 1755% growth over the past ten years.
According to the USDA, Morocco ranks as the 36th largest market for US agricultural exports. The trade relationship between the two countries was strengthened by a free trade agreement signed on June 15, 2004, which came into effect on January 1, 2006.
In light of this growing trade relationship, the two countries are working to revamp their two-decade-old free trade agreement (FTA).
Moroccan Minister of Industry and Trade Ryad Mezzour and US Deputy Trade Representative Bryant Trick met in Washington DC last month to mark the eighth session of the joint committee overseeing the agreement.
Both sides acknowledged the FTA’s successes but highlighted areas for improvement, such as overcoming non-tariff barriers that limit market access for Moroccan agricultural products like poultry and certain fruits and vegetables.